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(Reference Translation) DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. 1 Handling of Market Maker Program for Futures and Options Market Established May 1, 2020 Revised June 10, 2025 (Effective: July 1, 2025) Tokyo Commodity Exchange, Inc. Items Contents Notes I. Purpose・The purpose of this document is to establish necessary matters in relation to the market maker program, in order to ensure the smooth execution of transactions and improve liquidity in the TOCOM futures and options market by securing trading opportunities for investors through continuous quoting, etc. II. Outline 1. Definition ・A“market maker”is a trading participant designated by TOCOM to conduct market making ...

(Reference Translation) DISCLAIMER: This translation may be used for reference purposes only. This English version is not an official translation of the original Japanese document. In cases where any differences occur between the English version and the original Japanese version, the Japanese version shall prevail. This translation is subject to change without notice. 1 Handling of Market Maker Program for Futures and Options Market Established October 23, 2013 Revised April 28, 2025 (Effective: June 2, 2025) Osaka Exchange, Inc. Items Contents Notes I. Purpose ・The purpose of this document is to establish necessary matters in relation to the market maker program which is described in Article 18 of the Enforcement Rules for Business Regulations, in order to ensure the smooth execution of transactions and improve liquidity in the OSE futures and options market by securing trading opportunities for investors through continuous quoting, etc. II. Outline 1. Definition ・A“market ...

指定マーケットメイカー一覧/ List of Market Makers 2025/7/1 長期国債先物取引(現金決済型ミニ) 超長期国債先物取引(ミニ)（タイプ1） 超長期国債先物取引(ミニ)（タイプ2） 超長期国債先物取引(ミニ)（タイプ3） TONA3か月金利先物取引(タイプ1) TONA3か月金利先物取引(タイプ2) TONA3か月金利先物取引(タイプ3) TONA3か月金利先物取引(タイプ4) TONA3か月金利先物取引(タイプ5) TONA3か月金利...

指定マーケットメイカー一覧/ List of Market Makers 2025/7/1 プラッツドバイ原油先物取引ガソリン先物取引東エリア・ベースロード 電力先物取引（タイプ1） 東エリア・ベースロード 電力先物取引（タイプ2） 西エリア・ベースロード 電力先物取引（タイプ1） Platts Dubai Crude Oil Futures Gasoline Futures East Area Baseload Electricity Futures(Type1) East Area Baseload Electricity Futures(Type2) West Area Baseload Electricity Futures(Type1) フィリップ証券 Phillip Securities Japan,Ltd. ○ 日産証券 Nissan Securities Co., Ltd. ○○○○ その他 Others ○○ Total（＊）...

Sell/Buy : Buy Sell/Buy : Buy Sell/Buy : Buy Sell/Buy : Buy Sell/Buy : Buy Price : - Price : - Price : - Price : - Price : - Quantity:15 units Quantity:15 units Quantity:15 units Quantity:15 units Quantity:15 units Condition:FAS Condition:FAK Condition:FAS Condition:FAK Condition:FOK Sell Itayose Buy Sell Itayose Buy Sell Zaraba Buy Sell Zaraba Buy Sell Zaraba Buy MO←MO:15 units MO←MO:15 units MO MO←MO:15 units MO←MO:15 units …………… 8520 8520 8520 5 8520 8520 10 8510 10 8510 10 8510 5 8510 10 8510 8500 8500 8500 8500 8500 8490 8490 8490 8490 8490 …………… Sell Zaraba Buy Sell Zaraba Buy Sell Zaraba Buy Sell Zaraba Buy MO MO MO MO ………… 8520 8520 8520 8520 8510 8510 8510 10 8510 8500 8500 8500 8500 8490 8490 8490 8490 ………… < Results > < Results > < Results > < Results > < Results > A transaction is made for 10 units at 8,...

1 Temporary Trading Halts Due to the Triggering of the Static Circuit Breaker As of May 26, 2025 Tokyo Commodity Exchange, Inc. Item Details Remarks 1. Temporary Trading Halts - The following commodity futures are subject to a temporary trading halt (Circuit Breaker) a. Energy Market: Platts Dubai Crude Oil Futures, Gasoline Futures, Kerosene Futures, Gas Oil Futures, LNG (Platts JKM) Futures b. Chukyo Oil Market: Chukyo-Gasoline Futures, Chukyo- Kerosene Futures - When bids (or offers) for the lead contract (defined by Tokyo Commodity Exchange, Inc. (TOCOM) as the most liquid contract; the same shall apply hereinafter) of a commodity future are placed at the upper (or lower) price limit on orders in the regular session, TOCOM shall promptly perform a temporary trading halt of all commodity futures with the same underlier as the lead contract that are being traded in said session for at least ten minutes. - However, TOCOM shall ...

1 Outline of Give-Up Rules As of May 26, 2025 Tokyo Commodity Exchange, Inc. Item Details Remarks I. Purpose - In cases where an investor entrusts trading in futures (meaning physically delivered futures and cash-settled futures; the same shall apply hereinafter) to multiple trading participants, it will need to conduct settlement-related operations (meaning transfer of payment and deposit or refund of margin pertaining to futures; the same shall apply hereinafter) with each of these trading participants, which imposes an extremely large administrative burden on institutional investors and other market users. - In light of this, Tokyo Commodity Exchange, Inc. (TOCOM) has introduced give-up rules for futures in order to reduce administrative costs pertaining to settlement related operations and the required amount of margin for investors, thereby improving the convenience of futures traded on TOCOM. - Give-up rules have been adopted by major futures exchanges and other trading venues ...

1 Outline of Off-Auction Trading Rules As of May 26, 2025 Tokyo Commodity Exchange, Inc. Item Details Remarks I. Outline of Trading 1. Off-Auction Trading - Off-auction trading refers to trading conducted not in the trading sessions but in the off-auction market, which is independent of individual auction trading. An off-auction trade is a trade that is executed when there is a bid or offer at a certain price for a certain contract month and a certain volume of a physically delivered future or a cash-settled future that can be matched with an offer or bid at the same price for the same contract month and the same volume. - "Off-auction trading" is referred to as "off-floor trading" in TOCOM's rules including its Market Rules. 2. Eligibility - All physically delivered futures and cash-settled futures that are traded by individual auction shall be ...

1 Outline of Specifications for Commodity Futures As of May 26, 2025 Tokyo Commodity Exchange, Inc. Item Details Remarks I. Outline of Trading 1. Commodity Futures (1) Types of Futures - The following types of futures whose underliers are commodities or their prices are available for trading. a. Physically delivered futures A futures contract that has a commodity as its underlier, constitutes a promise to deliver good delivery materials on a specified date in exchange for payment, and may be settled by the payment or receipt of a difference when an offsetting position is taken before the specified date b. Cash-settled futures A futures contract that has the price of a commodity as its underlier, constitutes a promise to pay or receive the difference between the contract's traded price and its final settlement price, and may be settled by the payment or receipt of the difference when an offsetting ...

1 Outline of Standard Combination Order Rules As of March 18, 2024 Tokyo Commodity Exchange, Inc. Item Details Remarks I. Outline of Trading 1. Standard Combination Orders (1) Outline (2) Types of SCOs - During a trading session (excluding the closing auction), a trading participant may place an order for specific combinations of multiple contract months or multiple commodities in which the order (hereinafter referred to as a "Standard Combination Order (SCO)") is simultaneously placed as a sell order of one contract month or commodity and a buy order of the other contract month or commodity (limited to sales and purchase orders for the same customer account or the trading participant's own account). - SCOs shall consist of the following intra-commodity calendar spreads and inter-commodity spreads. - The combinations of executed futures trades resulting from an SCO and the method of calculating prices shall be as follows. Type of SCO...